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In the United States, a negotiable order of withdrawal account (NOW account) is an interest-paying deposit account on which an unlimited number of checks may be written. [1]A negotiable order of withdrawal is essentially identical to a check drawn on a demand deposit account, but US banking regulations define the terms "demand deposit account" and "negotiable order of withdrawal account ...
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Assessed value: The value of real estate property as determined by an assessor, typically from the county. "As-is": A contract or listing clause stating that the seller will not repair or correct ...
Historically, this restriction was frequently circumvented by either creating an account type such as a Negotiable Order of Withdrawal account (NOW account), which is legally not a demand deposit account or by offering interest-paying chequing through a bank that is not a member of the Federal Reserve system. The Dodd-Frank Wall Street Reform ...
Transaction accounts include all deposits against which the account holder is permitted to make withdrawals by negotiable or transferable instruments, payment orders of withdrawal, or by telephone or preauthorized transfers for the purpose of making payments to third persons or others.
Technically, real estate commissions always have been negotiable — a theme NAR long has stressed. Practically, though, the picture gets complicated. Practically, though, the picture gets ...
(a) Except as provided in subsections (c) and (d), "negotiable instrument" means an unconditional promise or order to pay a fixed amount of money, with or without interest or other charges described in the promise or order, if it: (1) is payable to bearer or to order at the time it is issued or first comes into possession of a holder; (2) is ...
Technically, real estate commissions have always been negotiable. Practically, though, agents are more skilled at negotiating than their clients, and commissions have clustered in the range of 5 ...